The smartest financial decision any investor can make right now is probably investing in the cannabis market. However, you should only be investing in one of the best stocks to realize the best side of the ever-growing industry.
MedMen Enterprises Inc (OTCMKTS: MMNFF) is one that’s showing signs of not stopping, and despite some negative vibes (like most stocks have), the company still boasts strong fundamentals.
MedMen Enterprises Inc. and its subsidiaries is a cannabis company that operates in the US. It cultivates and produces alongside distributing recreational and medical cannabis with the company being strong in California.
Med Men Enterprises Stock Price Analysis
Over the past few years, the company has kept on striving fine to achieve significant milestones to pursue growth opportunities in the United States cannabis market. However, even with the efforts, it’s putting in, the stock has been edging even lower.
The cannabis market is trending higher, and it won’t surprise anyone if the stock’s price gets on the upward trajectory, especially now that the company looks to be doing everything right.
The stock experienced an all-time low to $2.35, but a bounce back to over $2.70 level is needed to turn it bullish as well as aim a breakout at above $3.60 resistance level. Currently, the stocks’ price is at $2.39 and might head rapidly towards high numbers anytime sooner than many out there might be expecting.
MedMen is one of the best with the largest retail networks as it opened several retail stores in the most significant markets like New York, Las Vegas, and Los Angeles.
How has MedMen performed so far?
The company has thus far had its ups and downs, but what encourages most investors is the fact that it has not lost its course. In terms of year-to-date, the stock has gone down almost by 1.82% whereas that of the S&P gaining 15.96%.
Moreover, the preliminary results for the stock’s fiscal 2019 Q3 were very much encouraging. Across its operations in New York, Nevada, Illinois, Arizona, and California, the total revenue was $36.6 million which was a 22% quarter-over-quarter increase from the fiscal 2019 Q2.
MedMen Recent Development
The company continues to expand its retail network in the cannabis industry even though the stock hasn’t performed to the expectations. The 11th store that the company opened in California (not too long ago) enables the stock to target a broader market.
The store aids the company to push for the market share in the grand $11 billion cannabis market in California.
Subsequently, the company received a boost with a $250 million credit line financing deal they closed with Gotham Green Partners. The agreement is meant to fund the operationalizing the existing retail licenses.
Also, last month, the company acquired licensed marijuana retailer Sugarleaf trading that it a third retail store in the Northern California high-demand market.
Furthermore, the $682 million deal that the company acquires with the private company PharmaCann will help it boost its operational plans. The deal was perhaps the largest in the US marijuana industry which will help MedMen become the largest publicly-traded cannabis company it the US.
Also, there’s room for expansion as several states look to legalize recreational weed. Meanwhile, the partnership within Canada with Cronos Group, forged through a reverse takeover would allow the stock to open the company’s branded locations to the north.
Last year, the company acquired a nursery as well as a retail license which were to aid in building over 35 stores in Florida where pot is growing at a fast pace.
What is Next for MedMen?
All of these moves are strategic, and they set a momentum for the company’s future growth despite all the ups and downs that it has experienced. With its strong branding and well positioning, MedMen is poised for an exciting future.
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Disclosure: We have no position in MMNFF and have not been compensated for this article.
Terra Tech Corp (OTCMKTS: TRTC) A Bounce Back Play As Net Loss Narrows And Gross Margins Expand
Terra Tech Corp (OTCMKTS: TRTC) has retraced lower ever since it clocked 2019 highs at the end of the first quarter. The stock has crumbled under soaring bearish pressure. Amidst the steep pullback, the stock is a potential bounce-back play as it is currently trading at the lower end of a tight trading range.
Terra Tech Price Analysis
A plunge to the lower end of the $0.63 to $1 trading range leaves the stock in a precarious position. A plunge lower could elicit further selling pressure while a bounce back could result in the stock making run for this year highs.
In our view, the stock could bounce back on investors reacting to a string of positive developments that affirm the Company’s prospects. For starters, Terra Tech is fresh from launching a legal cannabis delivery services as it continues to pursue growth opportunities in California.
The Company is also fresh from delivering impressive financial results that indicate gross margin expansion as net loss from operations continues to narrow. The sale of Blum Desert is another development poised to strengthen the company’s financial position.
Terra Tech commencing cannabis sales to the adult use market should continue to excite investor’s, ideal for fuelling an upswing in the stock’s price action activity. With the stock appearing to have hit the floor after the recent pullback, a correction higher could be in the offing at the lower end of the trading range.
Namaste Technologies Inc (OTCMKTS: NXTTF) A Bounce Back Play On Robust Revenue
Namaste Technologies Inc (OTCMKTS: NXTTF) has had to contend with wild price swings, as investors reacted to delays in the filling of audited financial results and ousting of Sean Dollinger as the CEO. That could soon change, as the Company has come through and filled results that affirm robust revenue growth.
Namaste Technologies Price Analysis
However, concerns over widening net loss could hurt the stock’s sentiments in the market, at a time when it is in dire need of, groundbreaking catalysts to avert further slides. While the stock has bottomed out, it remains engulfed in a long-term bear trend.
The descending trend line could attract short selling pressure on the filling of negative news that arouse concerns about the Company’s long-term prospects. A spike to the $0.65 level essentially means the stock is at a critical resistance level.
Failure to rally and find support above the resistance level could elicit some form of selling that could see the stock trading sideways. Immediate support on any pullbacks from current highs is seen at the $0.40 mark.
A sell-off followed by a close below the $0.40 mark could result in Namaste Technologies resuming its downtrend, as has been the case for the better part of the past year. Conversely, a rally followed by a close above the $0.66 mark should pave the way for the stock to make a run for the $1.20 mark, seen as the next…
Cannex Capital Holdings Inc. (OTCMKTS: CNXXF) A Long-Term Play Despite Price Slump
A strategic merger with 4Front coming on the heels of Pure Ratios holding acquisition affirms why Cannex Capital Holdings Inc (OTCMKTS: CNXXF) prospects can only get better despite the recent price slump. The transformational events expand the Company’s operations into six U.S states signaling push for market value in the burgeoning cannabis sector.
Cannex Price Analysis
While Cannex has taken a significant hit in the market, it is still up for the year after an excellent start that saw it rally by more than 200%. The stock has since pulled lower in what appears to be a correction phase.
The ongoing pullback has since exposed the stock to a crucial support at the $1 a share level. A breach of the support level would leave the stock susceptible to further drops probably back to the $0.80 mark, a critical technical level.
For the stock to resume its uptrend, it first needs to rise and stabilize above the $1.20 mark, the immediate resistance level. The stock rallying and finding support above the $1.2 mark would open the door for bulls to fuel a rally back to 52-week highs.
Cannex is a diversified company that leases real estate properties and sells supplies to cannabis cultivators. The Company also offers financial services as well as branding and IP services to licensed cannabis operators. It is also focused on premium indoor cultivation extraction and branding of edible…